Tarantino went through a series of blows during that time. First Google pulled the Groveshark app from Google Play because of complaints from record labels. And then Spotify launched in the U.S. in July 2011, effectively taking away some of Grooveshark's users. But that wasn't even the worst of it. Universal Music Group, along with all of the major record labels, had filed a federal lawsuit against Tarantino and his team for uploading copyrighted songs by the end of January 2012.

Now, Tarantino is "literally broke" and trying to lower his rent. But he's going full force ahead in trying to revive Grooveshark from a tumultuous time.

Just yesterday, Grooveshark launched a new streaming service called "Broadcast." It lets anyone act as DJ by streaming playlists in real-time. DJs can even break up songs in the playlist with their own interpolations.

There are obviously still competitors, but Tarantino says if big players like Apple, Google, and Amazon enter the streaming space, it could push record labels to come up with "sustainable" licensing fees.